U.S. Markets
Fed’s Powell touts progress on inflation
By Reuters
July 15, 202412:19 PM PDT
July 15 (Reuters) – Federal Reserve Chair Jerome Powell said on Monday the three U.S. inflation readings over the second quarter of this year do “add somewhat to confidence” that the pace of price increases is returning to the Fed’s target in a sustainable fashion, remarks that suggest a turn to interest rate cuts may not be far off.
BRUCE ZARO, MANAGING DIRECTOR, GRANITE WEALTH MANAGEMENT, PLYMOUTH, MASSACHUSETTS
“There’s been so much speculation in the bond market trying to out-guess the Fed as to when it is going to lower rates, and that has led to extreme volatility in the 10-year and also associated interest-rates sensitive sectors, like housing and small caps… (read the rest here)